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Monthly Archives: May 2018

Do you have a market stall already? brooding about beginning one up as a little facet business? Market stalls will be terribly profitable – as a result of your created prices area unit low, you’re ready to take a bigger profit than you’d in a very ancient store. however what must you do to extend your possibilities of running a victorious market stall? examine the following pointers below:

Have a product that people want to buy

It’s all well and good if you have a great product, but if you don’t have a customer base, then it’s never going to sell. If you’re planning on setting up a market stall you will need to determine a) what types of people usually go to the particular market, b) what stalls usually sell well at the markets, and c) what price point you want to set for your items. Food and beverage stalls at markets are usually the most popular. This is because everyone likes eating and drinking, and most people will get hungry or thirsty if they are walking around the markets for a little while.

Do some clever branding with your stall

The easiest way to make your stall stand out from the crowd is to set up some eye catching branding out the front. The best way to do this is with a retractable banner or two. You can design up your own pull-up banner with your stall name, colours, and logos so that you are easily identifiable in a sea of other stalls. This will particularly help in catching the eye of people walking past, and it will give your repeat customers something to look out for when they return the next week. Since they are portable banners, all you need to do at the end of the day is retract each banner and pop it in the boot of your car, ready to go for next week.

Visit a few different locations

Even though your market stall may not be a great hit in the western suburbs markets, you might sell out quickly when you sell at the beachside markets. To figure out where sales are highest, you will need to travel around to a number of locations and keep records of how much you sold, and how quickly it sold at each. This way, you will know which spots are going to be this most lucrative for your business set up.

It takes time and effort to run a successful market stall. Hopefully we’ve covered the basics today and you will be on your way to a tidy income off the top of your market sales!

Digital transformation refers to the changes related to the appliance of digital technology altogether aspects of human society. Digital transformation could also be thought because the third stage of clasp digital technologies: digital ability → digital acquirement → digital transformation. The latter stage means digital usages inherently modify new forms of innovation and ability during a specific domain, instead of merely enhance and support the normal ways.

– Wikipedia

It has been more than 30 years since computers had been introduced into business world. With the help of, powerful mobile devices and high connectivity, now we are living in a momentary world that is evolving so fast towards digital that now digital transformation is inevitable.

Most of the C-Levels in corporations started to pay more and more attention to Digital Transformation. They believe, without this transformation, even a long-established company may extinct. It is the Kodak example they are afraid of. To be honest, the risk is there, however is ‘Digital Transformation’ just enough?

Marketing, sales, manufacturing, finance processes should all be digitised in order to fulfil the transformation. It includes working anywhere anytime, broader and faster communication, enterprise integration that would enable performance & efficiency improvements.

That is all well planned and should be executed step by step. Yet can you imagine any change to be internalised without a holistic approach? Without embarking every team member, adjusting / improving their competencies, engaging them all around the same evolving mindset…

That’s why, we believe this topic should be handled with a broader scope and it is the reason behind we like to call it a “Business Transformation’ rather than a Digital Transformation.

In other words Business Transformation shall handles the topic more broadly including mindset and organisations, leadership and entrepreneurial mindset, education and pragmatic planning.

Your Business Transformation journey is unique

Every company has its own inner dynamics and every category has its own realities hence your journey should be tailor made to your business. When there is so much at stake, it is not an easy task to move the rocks around, without rigor planning, sufficient on-boarding, kicking off the new mindset with an adjusted organisational structure.

The internal impact – Mindset & Organisation

Any change in a company first impacts its own resources, starting from human. Top-down transformation approaches tend to stay at the top level with Digital Transformation Teams, causing manager level (or further) to think it is not their business. The only way to beat the resistance to change is to embark the resistors ASAP.

Corporate and entrepreneurial mindsets are two far ends thus moving from one to other is not given. However, with the power of a corporate company, an entrepreneur mindset can achieve higher goals sooner. That’s why, we should keep on increasing skills of the individuals in our organisation, empowering them to move forward within the team.

The Impact on Consumer Experience

Digital transformation for the consumer end includes an architecture of your digital ecosystem to be able to do better listening, segmentation and tracking, enabling you to increase your digital media investments efficiency, letting you to fish where the fishes are. All these changes will definitely have a positive impact on your consumer engagement and thanks to the new tools, we will be able to measure the ROI of your campaigns / activities.

Step by Step Approach

As said, digital transformation is a key stage throughout this journey. All your existing processes should be analysed with expert analysts according to the dynamics of your company and industry. Only after then, a solution can be determined and tailored to your needs. The gains here are not necessarily immediate, therefore long term investments should be planned with an entrepreneur mindset.

The method by which you inform people about your products directly affects on how people view your product, business, and future marketing efforts. Poorly considered marketing efforts can have haunting consequences for your business. A careful hand cannot be overemphasized.

Several years ago, Timothy’s Coffee launched a marketing campaign to promote it’s new coffee product. In an attempt to create more awareness about their coffee, they broadcasted an advertisement on various social media sites offering a coupon or free samples of their coffee. However, the company failed to account for the impact of their offer and the power of social media. Three days after launching the campaign, Timothy’s depleted their supply of free K-cup coffee packs. After attempting to clean-up the mistake by re-offering the product on a first come first serve basis, Timothy’s ended up resorting to posting apology videos and offers of free coupons in the mail. The backlash from social media was almost as colossal as it’s response to the initial campaign.

When it comes to running a marketing campaign, a businesses cannot be too careful. Poorly considered advertising campaigns can quickly ruin a business’s reputation and can be a haunting memory for years. Here, we will see how you can avoid the mistakes other businesses have made.

INCONSISTENT EXPERIENCES

Have you ever visited a website that had links that didn’t work or products that weren’t available? Although vast numbers of businesses market their products and services online, too often their “up-keep” of these sources falls short. Email marketing is a useful method of educating your customers about your products or services. Offering coupons is another tactic useful for attracting customers. However, if the emails you send out carry information on products that will expire quickly, or if your coupons are no longer available, customers who follow these links only to be led to a dead-end web page will quickly get discouraged. Market teams should routinely walk through customer acquisition and engagement channels to see if there are any flaws in the process which could frustrate and discourage customers from visiting your website.

OVER-AGGRESSIVE EMAILING

Emailing can be an effective and cost-efficient method of advertising. Statistics actually show that email marketing for mid-sized businesses has a 246 percent return on investments. However, caution and moderation should be considered when sending out these emails. If you send out your emails to mass numbers of customers without considering the various market segments and groups of people in your target audience, your email recipients could begin marking your emails as spam. If large numbers of your emails are marked as spam, your email provider could temporarily or permanently disable your email account. According to complainmonitor.com “The industry standard for an acceptable percentage of complaints per email campaign is less than 0.02%.” Thus, the importance of sending out emails that hold useful information to your target audience (and not over-selling your company) should be emphasized.

BREAKING PROMISES

Coming up with an effective company promise or slogan is not difficult. However, consistently following through with this promise can be a challenge for some companies. Companies who offer promises and raise expectations of their customers only to disappoint will quickly develop a reputation for themselves.

OPERATING A CAMPAIGN BASED ON BAD DATA

Data that you gather about your customers holds high importance when you are designing your promotions. If this data is wrong, you may end up spending large amounts of company money with little results from consumers and a low ROI. According to Econsultancy, inaccurate data affects 88% of companies with an average company losing 12 percent of its revenue.

Data is usually gathered from control groups. Within these control groups, some data will show that certain promotions drive encourage positive consumer engagement and high returns on investments. Often companies will push to create promotions that appeal to these groups of consumers and will lose focus on other groups. However, some companies have found that although the data shows high engagement among certain groups of consumers, the audience’s willingness to convert and actually make purchases is very low. Thus, the idea of not putting all your eggs in one basket applies to the world of advertising campaigns.

Marketing strategy is an efficient and capable thanks to push your business to successive level. With a transparent selling strategy, goals and milestones become easier to achieve. However, you initially have to be compelled to produce your selling strategy before you get there. whereas it’s going to seem to be a formidable task once it is your 1st time making a selling strategy, it becomes abundant less of associate arduous venture after you have the proper frame of mind and solid structure skills. Next time you are puzzling over drawing up a selling strategy for your company, keep these useful tips in mind:

State your goals.

It goes without saying that the reason to develop a marketing strategy is to achieve goals. Write out those goals so that you have a clear idea of what you’re hoping to achieve. Break your list of goals up by years. What would you like to achieve at the end of the current year? What are your long-term goals for your business? Write all of these down and organize them.

Find and determine your target audience.

Understanding whom your products or services would suit best is important. It’s important to understand that you can’t force an idea or need upon people; it needs to come about naturally. Find out whom you should be selling to and learn all about their habits, likes, and dislikes. It’s helpful to create a customer profile, too.

This may include a little bit of research on your end to decide exactly what routes are best to take when trying to reach out to your determined target audience.

Define your marketing tactics.

Before you even begin this area, understand that you must absolutely know the difference between marketing strategy and marketing tactics. The two are often confused, but they could not be more different. In fact, the two terms go hand in hand and cannot be used interchangeably. A strategy is your overall, general idea to obtain a goal. If your goal is to take over another country then your strategy is to divide and conquer. Your tactics are how you go about carrying out your strategy, e.g. strong military, spies, etc.

Plan out and organize which tactics you feel will be the best for your company to carry out marketing strategy goals. This list can also be broken up into different categories, such as print advertising, radio advertising, and social media advertising.

Define your budget.

Defining a budget is important because it holds you accountable for ensuring your marketing strategy and tactics are being used to the best of their ability. Once you have your list of tactics listed out, do your research to find out the average cost for each. Decide which figure is right for you and your company and set a limit.

Track your progress often and alter your tactics as needed.

Keep track of which goals you are obtaining and which goals you are missing. What can you continue to do to carry out your success? What can you tweak in order to see better results? Write these ideas down and refocus your tactics. You may even need to reevaluate your target audience and create a new customer profile.

No matter what sort of business you’re concerned in there should be some selling concerned, after all the degree and aggressiveness of the selling can vary in line with the sort of business. selling will merely be outlined as no matter method takes place to create purchasers area unit awake to the product and services that the corporate should provide.

The customer or purchaser can be defined as industrial and other businesses [Business To Business] e.g. oil for lubricating machines, glass for the manufacture of bottles or steel for the fabrication of cars. In the case of Business To Consumer this is more easy to visualise as in the purchase of fizzy drinks at your local store, a kitchen table at the furniture showroom or a take away pizza from your local outlet.

If a company is mainly focused on the sales of products and services to other businesses, then this type of marketing has various characteristics attached to it such as…

o Longer Lead Times

o Multiple Decision Makers

o Higher Value Transactions

o Complex Contracts

o Lower Frequency Purchases

As there will be many other options that a company has in terms of where they are able to source the identified products and services, someone within the organisation will need to ensure that the company is and remains the preferred supplier. This in essence will be directed by the marketing function involving complex product education activities, supply chain discussions as well as customer to supplier meetings.

For the organisation selling to end user customers we see other general familiarities such as…

o Smaller Ticket Purchases

o Quick Purchase Decisions

o No Contract

o Individual Purchase Decisions

o Higher Frequency

… and the process of marketing will be developed accordingly which may include coupon marketing, contests and giveaways designed to foster customer interaction and conversation about the business.

As for the new technologies based around the daily extensive utilisation of the internet relating to…

o Reputation Management

o Search Engine Optimisation

o Social Media Marketing

o Website Design and Development

o Facebook Marketing

… this will need to be made use of in an appropriate fashion based on the nature of the business and needs of the purchasers. Social media should be used to create and nurture communities, promote products, develop customer engagement and in general be used to educate the marketplace at large.

With talk of Social Media mention must be used of the part that Facebook has to play for the promotion and development of businesses and its brand. First, it needs to be noted that there are billions of the population using Facebook, this by definition means that a percentage of your target market will be there ready to be marketed to.

On the other hand millions of businesses have setup Facebook pages looking to use this channel to market through which to build their business. Differing levels of success has been achieved using Facebook Marketing with many companies simply giving up on this method of digital marketing.

Social Media and Facebook are here to stay for the foreseeable future, many businesses simply do not have the internal expertise to know all that needs to be known in order to succeed with this medium. As marketing has to take place and Facebook has in some part to be used, for many it may be that the best course of action is to seek out partnerships with other business that have already developed the expertise that you need to take your own business forwards.

Promotional merchandise square measure essentially free gifts that companies offer dead set potential customers in a shot to get future business. whereas these endorsements will aim size and worth, they are doing have one issue in common: they’re all branded with the name and/or emblem of the business that’s giving the merchandise away. The goal then is to depart an enduring impression, therefore, the larger or higher the standard of the advertising gifts, the a lot of probably your business can see in a rise in sales as a results of the promotion.’

Key Information

In order for your promotional products to make a lasting impression for your business, you must be sure to include pertinent information about your what you do. Specifically, you will want to be sure to include the business name or logo, some sort of identifying information such as company colors and/or slogan, as well as contact information for the business. This is the information that the potential customer will remember and, as a result, every opportunity to reach more customers should be effectively maximized to the benefit of your business.

One Size Does Not Fit All

Depending on the nature of your promotion, you may want to consider one or several of the many possible types of content or media. Some of the more popular types of content include advertising, direct marketing, product placement, premiums, prizes and mobile marketing, to name a few. Media, on the other hand, usually include print, broadcasting, and the Internet.

It’s important to differentiate between the various kinds of content or media for your particular business promotion. In addition, you may also want to consider using multiple forms of content or media, for example combining a direct marketing campaign, mobile marketing campaign and print media as a way to draw traffic to your business website. Another option would be to employ a brand ambassador along with handing out door prizes during a kickoff or grand opening event.

Making the Best Use of Your Merchandise

Even with the biggest or best promotional products, it is important to note that when and where you employ the use of those products is the key to the success of your endorsement campaign. While the grand opening of your business or rebranding event is clear and successful obvious choices, you may also want to consider taking advantage of conventions, trade shows or conferences. Conventions, trade shows, and conferences are the perfect venues to release branded products to the public because they increase your chances of reaching the biggest possible audience, or potential clientele, within the shortest amount of time.

For all of your questions are concerns regarding promotional products, contact a merchandiser near you.